Metro Co-Owners Schmidt-Ruthenbeck Ousted Kluge, Platow Says

Metro AG (MEO) co-owners, the Schmidt- Ruthenbeck family, pressured Chairman Juergen Kluge to announce his resignation this week following Kluge’s actions surrounding the failed contract extension of Chief Executive Officer Eckhard Cordes, Platow Brief said, without citing anyone.

Franz Haniel will probably take over as Metro’s chairman, while Erich Greipl, a confidante of company founder Otto Beisheim, is unlikely to get enough backing from the owners, Platow said.

To contact the reporter on this story: Cornelius Rahn in Frankfurt at crahn2@bloomberg.net

To contact the editor responsible for this story: Kenneth Wong in Berlin at kwong11@bloomberg.net

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